The argon gas market was valued at USD 273.7 Million in 2014, and is projected to grow at a CAGR of 4.92% from 2015 to 2020.

The report is segmented on the basis of end-use industry; storage, distribution & transportation; mixture; function; and region. On the basis of end-use industry, the market is segmented into metal manufacturing & fabrication, chemicals, energy, healthcare, electronics, food & beverage, and others. The metal manufacturing & fabrication segment is projected to witness the highest growth based on end-use industry from 2015 to 2020. The storage, distribution & transportation of argon gas include cylinder & packaged gas, merchant liquid/bulk, and tonnage. The cylinder & packaged gas segment accounted for the largest share of the total argon gas market in 2014.

The argon gas market is projected to register a CAGR of 4.92% from 2015 to 2020. Factors such as increasing demand for electronic products, growing need for convenience food, and increasing construction activities drive the argon gas market. However, high equipment cost acts as a restraint for the market. Growth of the chemical end-use industry in developing and under-developed regions provides an opportunity to the argon gas market to grow even further.

Leading players in the argon gas market include Praxair Inc. (U.S.), Air Liquide S.A. (France), The Linde Group (Germany), Messer Group GmbH (Germany), Airgas Inc. (U.S.), Matheson Tri-Gas Inc. (U.S.), Air Products and Chemicals Inc. (U.S.), Advanced Specialty Gases Inc. (U.S.) and Iwatani Corporation (Japan). The main strategies adopted by these companies are expansions and investments. The requirements of manufacturers to adhere to the standards set by governments for argon gas make it essential for them to continually invest in research & development activities for innovative solutions. Companies are adopting inorganic growth strategies such as acquisitions to cope with the increasing demand for argon gas in key emerging markets. These strategies have helped companies to create a large customer and partner base in key markets.

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